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9 Apr 2015
USD/JPY moves off lows after US jobless claims
FXStreet (Córdoba) - USD/JPY bounced off daily lows and climbed back above the 120 mark after data showed US jobless claims rose less than expected in the week ending April 4.
Initial claims for unemployment benefits rose by 14,000 to 281,000 below the 285,000 expected by analysts. The dollar received a mild boost and rose from a low of 119.85 to a high of 120.06 against the yen after data. At time of writing, USD/JPY is trading at 119.98, still 0.12% below its opening price.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find immediate resistances at the 120.37/42 area (Apr 9 & 8 highs) and 120.60 (61.8% Fibo of 122.02-118.32) ahead of 121.00 (psychological level). On the flip side, supports are seen at 119.85 (daily low), 119.63 (Apr 8 low) and 119.42 (Apr 7 low).
Initial claims for unemployment benefits rose by 14,000 to 281,000 below the 285,000 expected by analysts. The dollar received a mild boost and rose from a low of 119.85 to a high of 120.06 against the yen after data. At time of writing, USD/JPY is trading at 119.98, still 0.12% below its opening price.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find immediate resistances at the 120.37/42 area (Apr 9 & 8 highs) and 120.60 (61.8% Fibo of 122.02-118.32) ahead of 121.00 (psychological level). On the flip side, supports are seen at 119.85 (daily low), 119.63 (Apr 8 low) and 119.42 (Apr 7 low).